Fears of a slowdown in the U.S. economy have pressured crude oil prices, setting them for what could end up being their worst weekly performance in five weeks.
OPEC is once again the most influential force in global oil supply – and will be so for the foreseeable future – now that U.S. shale production growth is slowing, American industry executives say.
Oil prices are trading flat on Thursday after two consecutive days in decline as a strike in France, a drop in U.S. crude inventories, and a faltering dollar offset fears over the economic impact of rising interest rates.
The leaders of the OPEC+ coalition, Russia and Saudi Arabia, pledged to continue close cooperation in oil policy in the group during a visit of Saudi Arabia’s foreign minister to Moscow on Thursday.
Crude oil prices moved up today after the U.S. Energy Information Administration estimated an inventory draw of 1.7 million barrels for the week to March 3.
Energy shortages could have a more significant impact on the economy than originally anticipated.
According to the IEA, carbon emissions rose by less than initially anticipated in 2022, a development that the Agency puts down to a large increase in clean energy projects.
(WO) – Increased demand for Add Energy’s drilling and well engineering services has led the company to set up a new office in Malaysia, headed up by a former ExxonMobil drilling engineer.
Nigeria’s first privately-owned refinery -ND Refineries Limited, has completed the mechanical construction of its fourth train, a 3000 barrels per day (bpd) facility dedicated to produce petrol for the domestic market.
Everyone in the oil and gas industry is now talking about decarbonization and net-zero emissions